Market Participants Reach Social Media

Terry Flanagan

Investment advisory and bank The Broadsmoore Group makes a marketing push as the new era of media hits financial services, perhaps now more than ever.

The Broadsmoore Group (TBG), a privately held investment advisory and merchant banking firm, announced that Jeffrey Devlin will join the firm as chief marketing officer and a member of the company’s board of directors.

Devlin is also chief executive and executive producer of MediaLogic, an international consultancy. The advertising industry veteran, with over 25 years of experience, will remain head of MediaLogic, despite his recent post at TBG.

One of Devlin’s initiatives regarding the firm’s marketing efforts surround mobile technology.

“The area of new media has been undergoing a transformation with the smartphone/tablet explosion and the connectivity of our customers via social media,” Devlin said. “Mobile and social (media) are now new media and we are embracing the opportunity to connect using all of the tools available.”

Those that raise eyebrows at the use of social media to further distribution and brand awareness at a financial services firm, such as TBG should note that transparency is “one of the underpinnings of new media,” and that firms are “fortunate to be working in this connected age.”

Yet the woes of staying complaint with the use of social media at banks, and advisory firms especially have shunned the channel’s use altogether for some.

“With every industry, there are constraints that need to be taken into consideration. Regulatory constraints such as privacy or marketing rules are part of the landscape,” Devlin told Markets Media.
He cites how new media, mainly the use of mobile technology has actually been a great help to market participants. Such feats may overshadow any hesitancy to utilize new media channels due to the challenge of staying compliant.

“For instance, who would have thought five years ago that you could do all of your banking on your phone, deposit checks by taking a picture of it and finding the nearest ATM with an application,” said Devlin.

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